Atalaya Mining first quarter production hurt by hefty Iberian rainfall

(Alliance News) - Atalaya Mining Copper SA on Tuesday said its first quarter output was hurt by "unusually heavy rains".

The owner of the Riotinto asset in Huelva, southern Spain, said copper production at the fell to 9,939 tonnes project in the first three months of the year, from 14,291 a year prior and 11,550 in the fourth quarter.

"Our production in Q1 2026 was impacted by unusually heavy rains, similar to the operations of our peers in the Iberian Pyrite Belt. In the coming quarters, we expect to recover a portion of the production shortfall," Chief Executive Officer Alberto Lavandeira said.

"Beyond the quarter, our focus remains firmly on growing and diversifying the business. We are well-positioned to advance our pipeline across the Riotinto District, including San Dionisio, San Antonio, Masa Valverde and the planned polymetallic circuit, supported by a strong balance sheet, a high‑quality asset base and an experienced operating team. At Touro, we are pleased with the recent court ruling, which voids the January 2020 negative environmental decision, and continue to work with the Xunta to complete the final steps of the environmental review under the existing strategic project framework."

Atalaya's outlook is for 50,000 to 54,000 tonnes of copper output this year.

"Looking further ahead, we believe the structural drivers for copper demand remain compelling. As major economies accelerate investment in renewable energy, electrification and distribution infrastructure, copper will play an increasingly strategic role, reinforcing the long‑term value of our asset portfolio," the CEO added.

The firm said the Middle East conflict has "the potential to disrupt supply chains and increase energy prices".

"So far, Atalaya has not experienced any challenges sourcing key consumables such as diesel or explosives, although unit prices could be impacted in the coming months. For some consumables, the company will benefit from fixed price agreements that were entered into before the conflict began," the company added.

"Electricity prices in Spain have remained stable since the start of the Iran conflict, thanks to Spain's diversified energy mix including significant solar and wind capacity and hydroelectric facilities that have benefitted from recent periods of high rainfall."

Shares in the company fell 0.7% to 800.00 pence each in London on Tuesday morning.

By Eric Cunha, Alliance News news editor

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